Sometimes you don't think about what you really need until you don't have it.  

This last week has been CRAZY in Utah!  We experienced HIGH winds that caused thousands of  people to go without power for a day, and many now are contacting their insurance companies for roof, window, and garage repair.  There is such a high volume of people that need home repairs that many people are finding it hard to find a repair man that will actually call them back.  

Thankfully my house is fine, but my rental needs a new roof, fence, and the deck is not attached to the house anymore.  I honestly never thought I would see winds this strong in Utah!!!!  I even saw a trampoline up in a tree.  

Anyway, after pondering the events I realized that I need more lanterns for my house and a generator would be nice when the power goes out.  I also double checked my property and casualty insurance.  Thankfully I have a low deductible for my rental property, but I feel bad for my brother that needs to fork out $500 at Christmas time to cover his deductible.  

When I was talking to him he was actually up beat about it.  He explained that he was up beat because he realized his situation could be a lot worse!  His house doesn't need that much repair, and he could be like his neighbors!  I questioned him... "Your neighbors... what happened to them?!?!?!"  He replied, "Well... my neighbor is a very successful dentist, and he thought that his house would never need a ton of repairs."  Utah doesn't have weird, crazy, winds all the time... and never like the ones we had.  "He decided on a high deductible p&c insurance in order to save on the everyday costs of insurance."   I said, "Oh NO! What did he have to pay?"  My brother replied, "Twenty-Two Thousand dollars right before Christmas."  My heart sank.  My thoughts were, "Oh, that poor family....  That was stupid!"  

That family is in a pinch right now, but they have been smarter in other financial areas so they are able to recover.   Would you be able to?  What is your deductible for your P&C Insurance?  Do you have P&C Insurance?  If you are renting... do you have renters insurance?  

Our Week 8 of our 52 Weeks to Prosperous Living Program talks about Property and Casualty Insurance.  This week is intended to help you realize what your deductibles are and compare with other companies to make sure you are getting the best price and are covered sufficiently.  

After pondering this family, I though it would be a good time to share our Property and Casualty Insurance Workbook from Week 8.  It is attached below.  Hopefully, the workbook will help you determine if you are covered sufficiently and paying what you should.  I don't like hearing sad stories like my brother's neighbors... I don't think anyone does... and my hope is to eliminate them!   

I hope you all have a wonderful Christmas season.  

Sincerely, 

Deanna Kinsey
Co-Owner 52 Weeks to Prosperous Living
Property and Casualty Insurance Workbook
File Size: 97 kb
File Type: pdf
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